Robert W. Baird Lowers MongoDB (NASDAQ:MDB) Price Target to $300.00

MongoDB (NASDAQ:MDB) had its price target decreased by Robert W. Baird from $390.00 to $300.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 13.58% from the stock’s previous close.

MDB has been the subject of several other research reports. UBS Group set a $350.00 price target on shares of MongoDB in a research note on Tuesday. Cantor Fitzgerald started coverage on MongoDB in a report on Wednesday. They set an “overweight” rating and a $344.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $350.00 price target on shares of MongoDB in a research note on Tuesday. KeyCorp lifted their price objective on MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Scotiabank reissued a “sector perform” rating on shares of MongoDB in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $345.17.

MongoDB Stock Up 3.8 %

Shares of MDB stock opened at $264.13 on Thursday. MongoDB has a twelve month low of $212.74 and a twelve month high of $424.00. The stock’s fifty day simple moving average is $263.70 and its 200 day simple moving average is $275.28. The firm has a market capitalization of $19.67 billion, a P/E ratio of -96.40 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.48. The company had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 earnings per share. As a group, equities research analysts expect that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Transactions at MongoDB

In other MongoDB news, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $267.85, for a total value of $1,339,250.00. Following the completion of the sale, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at approximately $21,510,229.95. This represents a 5.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Thomas Bull sold 169 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $39,561.21. Following the completion of the sale, the chief accounting officer now owns 14,899 shares of the company’s stock, valued at approximately $3,487,706.91. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,314 shares of company stock valued at $13,337,753 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Institutional Trading of MongoDB

A number of institutional investors and hedge funds have recently modified their holdings of MDB. Nisa Investment Advisors LLC increased its position in shares of MongoDB by 3.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock valued at $295,000 after purchasing an additional 40 shares during the last quarter. US Bancorp DE raised its position in MongoDB by 9.1% in the third quarter. US Bancorp DE now owns 3,869 shares of the company’s stock worth $1,046,000 after acquiring an additional 324 shares during the period. Janney Montgomery Scott LLC purchased a new position in MongoDB in the third quarter valued at about $861,000. Principal Financial Group Inc. grew its position in shares of MongoDB by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 6,095 shares of the company’s stock valued at $1,648,000 after acquiring an additional 160 shares during the period. Finally, Atria Investments Inc raised its holdings in shares of MongoDB by 6.6% in the 3rd quarter. Atria Investments Inc now owns 2,175 shares of the company’s stock worth $588,000 after purchasing an additional 135 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

About MongoDB

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.